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Police charge man after operating fraudulent cryptocurrency accounts

Cybercrime Squad detectives have charged a man over allegedly using multiple fraudulent identities to open cryptocurrency accounts online.

Last month, detectives attached to the State Crime Command’s Cybercrime Squad established Strike Force Decima to investigate a 28-year-old man allegedly opening several online cryptocurrency accounts utilising false documentation.

It’s further alleged the man fraudulently obtained $22,000 from other bank accounts to transfer into cryptocurrency.

Following extensive inquiries – with assistance from Queensland Police Service and the Australian Federal Police Cybercrime Units – strike force detectives executed a Commonwealth search warrant at a home in Upper Coomera, Queensland, last Thursday (18 August 2022).

During the search, police seized a number of items including false ID documentation and a printer allegedly used to manufacture fraudulent documents.

A 28-year-old man was arrested at the scene by virtue of seven outstanding New South Wales arrest warrants.

The man appeared at Southport Magistrates Court where detectives applied for, and were granted, the man’s extradition to NSW.

He was escorted on a flight to Sydney, where he was taken to Mascot Police Station.

The outstanding warrants were executed and he was charged with 16 offences including use false customer name to receive service, possess equipment for making false document, deal in identification info and use it to commit fraud and possess identification info & intend section 372.1 fraud.

The man was refused bail to appear at Parramatta Local Court on Saturday 20 August 2022, where he was formally bail refused to reappear at Downing Centre Local Court today (Thursday 23 August 2022).

Cybercrime Squad Commander, Detective Superintendent Matt Craft, said that the cooperation from partner agency’s Cybercrime Units assisted in the quick identification and arrest of the alleged offender.

“Police will allege the man was attempting to assume more than a dozen identities, however through quick collaboration with the digital currency exchange and financial institutions, we were able to bring this to a swift resolution.

“Individuals may think because they live interstate, but they target NSW residents that they are safe from our laws, but they should be aware that the Cybercrime Squads are always watching,” Det Supt Craft said.

Queensland Police Service’s Acting Superintendent Michael Newman said cybercrime units across Australia will continue to work together as cyber criminals do not see state boundaries.

“This is a valuable reminder to people across Australia that cybercrime squads across the nation are working together to locate and put offenders before the courts.”

Investigations into Strike Force Decima are ongoing.

Anyone with information in relation to cyber-related crime is urged to contact Crime Stoppers: 1800 333 000 or https://nsw.crimestoppers.com.au. Information is treated in strict confidence. The public is reminded not to report information via NSW Police social media pages.

Risk Warning: Cryptocurrency is a unregulated virtual notoriously volatile asset with a high level of risk.  Any news, opinions, research, data, or other information contained within this website is provided for news reporting purposes as general market commentary and does not constitute investment or trading advice. 

/Public Release. This material from the originating organization/author(s) may be of a point-in-time nature, edited for clarity, style and length. The views and opinions expressed are those of the author(s).View in full here.


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